Scheme Funding Summit returns for 2018 - helping trustees and senior pension decision-makers navigate these potentially choppy waters, and look at the different avenues for schemes to close the £623bn funding gap.

So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

Baillie Gifford reopens for UK segregated

The firm had introduced a moratorium on pitching for new UK segregated mandates in November 2000, following £2bn worth of new business during last year.

The decision to close for new business was taken to ensure that the firm was able to continue to provide the highest standards of service to its UK clients and to ensure that new accounts were firmly established.

Colin Neilson, marketing director at Baillie Gifford, said: “Active investment management is not a production line. Adding value for our clients means sustainable investment returns and service, not just mandate wins. As an independent firm we can choose to do the right things for our clients and our staff.”

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